Sweet Rewards For Those With Good Credit

November 26, 2011

Seattle Times

Credit card issuers scaled back their rewards programs during the credit crunch
and while they waited to see how much federal regulation would cut into their
bottom line, card experts say. But now those concerns have been alleviated, and
banks have been bringing back rewards to make their cards stand out. Two-thirds
of credit card offers in September featured a reward or rebate, according to
Synovate, which follows direct-mail solicitations. Though that is less than in
June, rewards since that time have become more plush, said Synovate's Roy
Persson. Issuers are expected to fatten up deals for the holidays to attract
consumers just when they are likely to do some serious spending. Discover, for
instance, is promoting a cash-back card with a $150 holiday bonus to consumers
who spend $1,000 in the first 90 days. Rewards are not back for everyone,
though. Card companies are being extremely selective and are in pursuit of the
same customer: the one with prime credit. These days, that could mean someone
with a credit score of 750 or higher out of a possible score of 850.Web Link